BEIJING: The mouthpiece of China’s Communist Party warned on Monday that Japan’s economy could suffer for up to 20 years if Beijing chose to impose sanctions over an escalating territorial row.
Anti-Japanese protests have been held across China in recent days over a dispute on a group of small islands in the East China Sea claimed by both countries but controlled by Tokyo.
The row intensified last week when the Japanese government bought three of the islands, effectively nationalising them, and China responded by sending patrol ships into the waters around them.
Trade sanctions between Asia’s two biggest economies could cast a pall over growth on the continent, which major Western countries are counting on to drive recovery from the global slowdown.
A commentary in the People’s Daily newspaper said the Japanese economy has already experienced two lost decades from the 1990s and was suffering further weakness in the aftermath of the world financial crisis and 2011 earthquake.
Digital news offering aims at high ground
WASHINGTON: It seems like a terrible time to be launching a news operation.But there are opportunities and niches, and the new digital media launch called Quartz from Atlantic Media Company seeks to exploit them.
Quartz is set to launch in the coming weeks as a “100 percent digital” news operation covering “the most important themes of the new global economy,” said editor-in-chief Kevin Delaney. Quartz has been recruiting a small number of veteran journalists for an overall news staff of around 25 people. The operation will feature tablet and mobile displays as well as a desktop website, qz.com.
“There is an opportunity to do great journalism on a digital platform,” Delaney, a former managing editor of The Wall Street Journal Online, told AFP.“It’s a great time to launch a proBject like this. We’ve learned the lessons of what works over the last few years.”
Quartz will offer free content, with revenue coming from advertising, aiming to cover key global business issues and reach readers around the world.“We’re really confident in the ad-supported model,” Delaney said. “There has been strong advertiser interest.”
The name Quartz was chosen “because it embodies the new brand’s essential character: global, disruptive and digital. Quartz, the mineral, is found all over the world, and plays an important role in tectonic activity,” a statement said.
South Korea think-tank cuts growth forecast
SEOUL: South Korea’s state-run think-tank on Monday cut its forecast for the country’s growth this year to 2.5 percent, citing the Eurozone debt crisis.